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posted by chromas on Sunday October 14 2018, @03:03AM   Printer-friendly
from the money-is-disagreeable dept.

Submitted via IRC for Bytram

Nice people finish last when it comes to money: Agreeable people who place less value on money at a financial disadvantage, study says

Nice people may be at greater risk of bankruptcy and other financial hardships compared with their less agreeable peers, not because they are more cooperative, but because they don't value money as much, according to research published by the American Psychological Association.

"We were interested in understanding whether having a nice and warm personality, what academics in personality research describe as agreeableness, was related to negative financial outcomes," said Sandra Matz, PhD, of Columbia Business School and lead author of the study published in the Journal of Personality and Social Psychology. "Previous research suggested that agreeableness was associated with lower credit scores and income. We wanted to see if that association held true for other financial indicators and, if so, better understand why nice guys seem to finish last."

[...] "We found that agreeableness was associated with indicators of financial hardship, including lower savings, higher debt and higher default rates," said Gladstone. "This relationship appears to be driven by the fact that agreeable people simply care less about money and therefore are at higher risk of money mismanagement."

[...] "Not every agreeable person is at equal risk of experiencing financial hardship," Gladstone said. "The relationship was much stronger for lower-income individuals, who don't have the financial means to compensate for the detrimental impact of their agreeable personality."

Nice guys finish last: When and why agreeableness is associated with economic hardship (DOI: 10.1037/pspp0000220)


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  • (Score: 3, Touché) by maxwell demon on Sunday October 14 2018, @06:53AM (1 child)

    by maxwell demon (1608) on Sunday October 14 2018, @06:53AM (#748521) Journal

    So the study says that if you put less value in money, you'll on average end up having less of it? And that is supposed to be surprising?

    I make another prediction: People who put more value in travel will, on average, see more places.

    --
    The Tao of math: The numbers you can count are not the real numbers.
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  • (Score: 0) by Anonymous Coward on Sunday October 14 2018, @08:19AM

    by Anonymous Coward on Sunday October 14 2018, @08:19AM (#748534)

    So the study says that if you put less value in money, you'll on average end up having less of it? And that is supposed to be surprising?

    Even an obvious conclusion is hard to come by, if one was conditioned to take on faith everything he was taught. People easily believe in a number of conflicting assertions, simply by virtue of never thinking about what any of it really means.
    They "know" what they've heard from an authority, and that's enough; no need to spend calories on engaging the brain.